Gold Futures: Door open for extra downside
|Traders increased their open interest positions for the second session in a row on Wednesday, this time by nearly 4K contracts in light of flash data from CME Group. In the same line, volume prolonged the choppy performance and rose by 142.2K contracts.
Gold faces interim support at $1,825/oz
Gold prices remain on the defensive amidst rising open interest and volume, opening the door to the continuation of the downtrend in the very near-term. That said, the next interim support emerges at the Fibo level (of the June-August rally) at $1,825.31.
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